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Pensions

Volume 889: debated on Monday 24 March 1975

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asked the Chancellor of the Exchequer what would be the total annual cost of exempting all State pensions at current levels of payments from income tax.

The estimated cost of exempting national insurance retirement pensions from tax is £320 million for 1974–75. Information on which to base an estimate of the cost of exempting other forms of state pensions is not available.